6% of NTA as at 30 June each year does not appear to be anything...

6% of NTA as at 30 June each year does not appear to be anything like a serious attempt to reduce the NTA gap.
Perhaps the new Customer Services Manager can tell us why this feeble spin represents a genuine attempt to return shareholder value.
Taking Jul 31 figures of NTA at $1.25; 6% equals 7.5c. If paid in full in one payment the NTA reduces to 1.175, hardly a meaningful gap reduction. Under the payment arrangement arbitrated by this lot it reduces to $1.20. We are to be locked into the previous year's performance regardless of what occurs during the forthcoming year.
Under the current payout plan you have the privelege of waiting for eight months to be paid the princely sum of 2.5c regardless of the NTA change. In the meantime, at the current NTA, 30c (or 25%) of value languishes inaccessable to it owners but not to management fees.
Can anyone think of a reason why this lot would be so keen to hang-on to funds under management rather than returning shareholders' funds to their owners? Appears to be a mystery to this feeble minded victim.